CAN THO UNIVERSITY MID-TERM TEST

COLLEGE OF ECONOMICS SUBJECT: MATHS FOR ECONOMICS

Exam code: 485 Time duration: 60 minutes;
(20 Multiple choices)

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Câu 1: How long will any sum of money take to double its value if it is invested at 12.5%?
A. 9.50 years B. 5.09 years C. 5.90 years D. 9.05 years
Câu 2: If the monthly rate of interest on a loan is 1.75% what is the corresponding APR?
A. 23.14% B. 21.34% C. 21.43% D. 23.41%
Câu 3: How many years will £2,000 invested at 5% take to accumulate to £3,000?
A. 9,34 years B. 8,34 years C. 9,43 years D. 8,43 years
A consumer has an income of £160 to spend on the two goods X and Y whose prices are £20
and £5 each, respectively. This data is used for question 4 to 6)
Câu 4: What is the slope of the budget constraint?
A. -3 B. -5 C. -2 D. -4
Câu 5: What happens to this slope if PY rises to £10?
A. -3 B. -5 C. -4 D. -2
Câu 6: What happens with the new slope if income then falls to £100?
A. -4 B. -3 C. -5 D. -2
Câu 7: What will £20,000 invested for 10 years be worth if the expected rate of interest is 12% for
the first 3 years, 9% for the next 2 years and 8% thereafter?
A. £49,015.90 B. £49,051.90 C. £49,051.09 D. £49,015.09
It is assumed that consumption C depends on income Y and that this relationship takes the
form of the linear function C = a + bY . When Y is £600, C is observed to be £660. When
Y is £1,000, C is observed to be £900. (This data is used for question 8 to 9)
Câu 8: What is the value of a in this function?
A. 100 B. 300 C. 400 D. 200
Câu 9: What is the value of b in this function?
A. 0,7 B. 0,8 C. 0,6 D. 0,9
In a competitive market where the supply price (in £) is p = 3 + 0.25q and demand price (in £) is p = 15 −
0.75q. The government imposes a per-unit tax of £4. This data is used to answer the question 10 to 11.
Câu 10: How much of a price rise will this tax mean to consumers?
A. £4 B. £1 C. £3 D. £2
Câu 11: What will be the tax revenue raised?
A. £32 B. £33 C. £30 D. £31
Câu 12: An initial investment of £50,000 increases to £56,711.25 after 2 years. What interest rate has
been applied?
A. 5.06% B. 5.60% C. 6.50% D. 6.05%
A firm makes two goods A and B which require two inputs K and L. One unit of A requires 6 units of K
plus 3 units of L and one unit of B requires 4 units of K plus 5 units of L. The firm has 420 units of K and
300 units of L at its disposal. How much of A and B should it produce if it wishes to exhaust its supplies
of K and L totally? (This data is used for question 13 to 14)
Câu 13: How much of A should it produce?
A. 50 B. 40 C. 60 D. 30
Câu 14: How much of B should it produce?
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 A. 40 B. 50 C. 30 D. 60
Câu 15: Interest rates are expected to be 14% for the next 2 years and then fall to 10% for the following
3 years. How much will £2,000 be worth if it is invested for 5 years?
A. £3,459.45 B. £3,459.54 C. £3,495.54 D. £3,495.45
Find the profit-maximizing output for a firm with the total cost function TC = 4 + 97q − 8.5q2 + 1/3q3 and
the total revenue function TR = 58q − 0.5q2. (This data is used for question 16 to 17)
Câu 16: How much the maximum profit of the firm?
A. 106,6667 B. 107,6667 C. 109,6667 D. 108,6667
Câu 17: How much the minimum profit of the firm?
A. -58 B. -95 C. -59 D. -85
Câu 18: If interest is credited monthly at a monthly rate of 0.9% how much will £100 invested for
12 months accumulate to?
A. £111.53 B. £111.35 C. £113.53 D. £113.35
Câu 19: Assume that a firm can sell as many units of its product as it can manufacture in a month at
£18 each. It has to pay out £240 fixed costs plus a marginal cost of £14 for each unit produced.
How much does it need to produce to break even?
A. 60 B. 50 C. 70 D. 40
Câu 20: At what interest rate will £3,000 accumulate to £10,000 after 15 years?
A. 8.63% B. 6.83% C. 6.38% D. 8.36%
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